Debt Service Uk

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Do you sometimes feel like you’re making a lot of sacrifices to live debt free? Debt free living is easy if you don’t have any debt. But, living debt free and working to eliminate debt, at the same time, can be a struggle. It can feel like you’re always giving up what you really want to meet that goal.

Sometimes we can’t help but get discouraged. Our desires and wishes get the best of us from time to time. But, it seems to me that things always work out for the best if you just hang in there a little longer.

On a diet commercial the other day, they said that all cravings pass within about 15 minutes. If you can just hold off for those 15 minutes, the craving will pass. I’ve found this to be somewhat true with impulse buying. Justification of a non-purchase takes about 15-20 minutes and the urge to buy goes away. Let me tell you my own experience.

I’ve been wanting a front loading washer and dryer set ever since they become popular styles for the home. Each time I go into a store that sells them, I stand and gaze at the beautiful pieces of machinery and even go so far as to compare prices. But, even at the low end, a set of these machines will cost you about $1600. I couldn’t tell you how many times I almost approached the salesman about that “easy pay plan.”

Each time I hesitated, and after about 15 minutes of thinking about it, I would walk away. I would tell myself that the purchase wasn’t necessary right now. Besides, my antique washer and dryer were still working by some miracle . And, I didn’t really need a set that cost $1500 when I could get a perfectly fine washer and dryer for about $650, when I “really” need them.

Talking yourself out of a purchase is hard when you’ve been talking yourself into them for so long. Justifying a non-purchase for the cause of living and becoming debt free is well worth it. I have about four years to go before I see zero debt. After that, I can save enough to buy any washer/dryer set I want in as little as two months, based on my current debt payment. By then, my tastes and the styles may have changed.

I got my new washer and dryer. They aren’t front loaders and they aren’t “new.” But, they are new to me. During a remodeling project, a friend discovered that the machines they had would not be accommodated in the space and decided to invest in a new stackable set. They are less than five years old. Less than 1/4 the age of my current set (which wasn’t even a matching pair), and in great condition. We acquired both for a total of $150.

I’m happy with the purchase. It satisfies my goal to become debt free and saved me money. It’s a debt free purchase I can live with! Now, I don’t have to worry about getting stuck without a washer or dryer. The old ones were getting temperamental and it was obvious that the day of retirement was nearing for both. Living without a washer and dryer is just not practical with a family of six.

Living to become and remain debt free is often a challenge in a world that’s credit card crazy. We live with constant exposure to credit card debt “pushers.” If they can’t get you at home, by mail or TV commercial, they get you as you walk in the door of the store and at the checkout.

When you want something and you happen to stop and look, just remember the 15 minute non-purchase theory. Walk around and justify not making the purchase for at least 15 minutes. That’s long enough to talk yourself out of it and save the day. You’ll save money and stay true to your goal to become or remain debt free!

The one major benefit to be had from a free debt management plan is that you start to own your debt and you are put firmly in the driving seat when it comes to debt management.  Now what other reason do you need for implementing a debt management plan?

Many people think that debt management plans are just something that can help only people who are slightly in debt or people who owe only a little bit of money.

But in fact a good debt management plan (whether free or not) will help to analyse your finances, look at how you spend, what your outgoings are, where you can make savings and then help to draw up a repayment programme that is realistic but will help you to regain a sense that you are indeed managing your debts.

But apart from the obvious ‘taking control’ benefit of a debt management plan, there is a real psychological boost that can be had from a debt management plan.  People who are in debt often get very depressed, anxious, they can suffer with insomnia or they drink too much and try to block out the pain of their debts.  They often complain that ‘Life feels a mess’.  But these feelings and emotions/actions are normal when you are faced with a really difficult problem such as debt.

When you are in debt and don’t do anything about it, the debt usually just escalates and gets worse and worse.  But when you seize control and actively take positive action to handle and manage your debts, then you can rid yourself of all the worries, fears and anxieties.  Debt management plans help people get back to normal and start living their lives to the full again: they can even help people to sleep better at night.  So there is no good reason not to have a debt management plan: debt management plans really do make sense.